UMB Bank n.a. Reduces Position in NIKE, Inc. (NYSE:NKE)

UMB Bank n.a. lowered its holdings in NIKE, Inc. (NYSE:NKE) by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,303 shares of the footwear maker’s stock after selling 8,589 shares during the period. UMB Bank n.a.’s holdings in NIKE were worth $2,066,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in NIKE by 9.6% during the 2nd quarter. Pacer Advisors Inc. now owns 107,821 shares of the footwear maker’s stock worth $8,126,000 after acquiring an additional 9,471 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in NIKE in the second quarter valued at about $231,000. ProShare Advisors LLC raised its stake in NIKE by 2.0% during the second quarter. ProShare Advisors LLC now owns 272,650 shares of the footwear maker’s stock valued at $20,550,000 after buying an additional 5,424 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in NIKE by 4,942.1% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 15,227 shares of the footwear maker’s stock worth $1,148,000 after buying an additional 14,925 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of NIKE in the 2nd quarter worth approximately $674,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NKE opened at $70.89 on Tuesday. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. The firm’s fifty day moving average price is $75.77 and its two-hundred day moving average price is $77.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.26%. NIKE’s payout ratio is 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Robert W. Baird decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. TD Cowen decreased their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Finally, Truist Financial cut their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.